Bitcoin, Ethereum, Dogecoin Drop As Grayscale Rally Fades: Analyst Predicts 16% Downside In September For Apex Crypto, Anticipates $23K Levels
Portfolio Pulse from Mehab Qureshi
Major cryptocurrencies Bitcoin, Ethereum, and Dogecoin experienced a decline as the rally sparked by Grayscale's court victory against the SEC faded. The SEC has been instructed to reconsider its decision to decline Grayscale's proposal to transform its $14 billion Bitcoin Trust into a spot bitcoin ETF. Analysts predict a 16% downside for Bitcoin in September, anticipating $23K levels.
August 31, 2023 | 2:23 am
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NEGATIVE IMPACT
Bitcoin's price may experience a 16% decline in September, according to analysts.
The predicted decline is based on historical trends and the fading rally sparked by Grayscale's court victory against the SEC.
CONFIDENCE 70
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Dogecoin's price experienced a decline, following the overall trend in the crypto market.
The decline in Dogecoin's price is part of the overall decline in the crypto market, influenced by the fading rally sparked by Grayscale's court victory against the SEC.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 60
NEGATIVE IMPACT
Ethereum's price experienced a decline, following the overall trend in the crypto market.
The decline in Ethereum's price is part of the overall decline in the crypto market, influenced by the fading rally sparked by Grayscale's court victory against the SEC.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 60